Funke, Michael; Paetz, Michael; Pytlarczyk, Ernest - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2009
This paper develops and estimates an open economy dynamic stochastic general equilibrium (DSGE) model of the Hong Kong economy. The model features short-run price rigidities generated by monopolistic competition and staggered reoptimisation. The model is enhanced with wealth effects due to stock...
